PAYCHECKS HAWAII MAKES GENERAL ELECTION ENDORSEMENTS
State Energy Czar to Speak at SBH Sunrise
Smart Business Views by Sam Slom
Constitutional Amendments to be Decided by Voters
It’s Been A Good Time Together: G+G
Open Houses: Are They Effective? Are They Safe?
Small Business News - October 2010
Open Houses: Are They Effective? Are They Safe?
By Walt Harvey (R), East Oahu RealtyReal Estate agents and brokers have long used the Open House as a marketing tool. In the age of the Internet and virtual tours, is this still a smart tool? Two recent instances of thefts at Open Houses have placed agents on alert so let’s consider the value of this traditional tool.
Here on Oahu, Open Houses are customarily held on Sunday from 2-5PM. Agents may post an ad in the newspaper and place directional signs on corners leading to the featured property. They open up their clients’ property for any and all to view. Anyone can walk in: curious neighbors, folks just getting started in the buying process and gaining knowledge, even serious buyers or criminals… everyone! Who knows? The home is “Open” with no pre-screening of the visitor. Is this wise?
If the property is occupied, can the hosting agent monitor all of the “guests” and insure that none of the owners’ valuables disappear? If the property is vacant, can the hosting agent insure that their own valuables are secure or if it is even safe to be in a vacant property alone? Recent events raise these questions.
National statistics reveal that more than 80% of potential home buyers start their search on the Internet and they want to see photos and virtual tours. Serious buyers (we call them real buyers) have been pre-qualified or pre-approved for their home purchase and are working with a real estate professional to help them locate a home. If your home meets their guidelines, their agent will call for an appointment to view it. Fact: less than 2% locate their home via Open House.
Unfortunately and for far too long, agents have helped perpetuate the myth that Open Houses help sell homes. In truth, they act as a method of acquiring buyers for the hosting agent while using the sellers’ home as an office for three hours on Sunday. We confess we have hosted many Open Houses and have sold some as a result; we probably have more “Open House” signs than many companies. Nevertheless, if you are a home seller, wouldn’t you prefer that your home be shown by appointment, to real buyers and not to your nosey neighbors, or just anyone wandering in off the street??
Walt & Arla Harvey are real estate brokers with East Oahu Realty. They specialize in residential, commercial and investment real estate and can be reached on their website: http://www.coastalhawaii.com. Have a real estate question? E-mail them at .(JavaScript must be enabled to view this email address) or call 375-8959.